Slowdown, high interest costs hit auto sales in March

Automobile manufacturers have reported a decline in March sales due to prevailing economic slowdown coupled with high fuel and interest costs.

Passenger car major Maruti Suzuki's total sales declined by 5.5 per cent during last month at 113,350 units from 119,937 units. Domestic sales in March fell by 5.2 per cent at 102,269 units from an off-take of 107,890 units reported in March 2013.

For year ended March 31, 2014, the company reported a 1.4 per cent fall in its total sales at 1,155,041 units from 1,171,434 units sold in the previous fiscal.

Chennai-based Hyundai Motor India's sales last month declined by 8.4 per cent at 51,708 units from 56,437 units sold in the corresponding month of last year. However, the company's domestic sales grew by 3.4 per cent and stood at 35,003 units - up from 33,858 units sold in March 2013.

Company's exports last month fell by 26 per cent at 16,705 units - down from 22,579 units being shipped-out during the corresponding month of last year.

Other major players in the Indian auto market, Tata Motors and Mahindra & Mahindra (M&M), too, reported a drop in sales.

Tata Motors' total sales, including exports, in the month under review fell by 29.60 per cent at 51,184 units last months from an off-take of 72,712 units in the corresponding month of 2013.

The company's domestic sales including commercial and passenger vehicles in the month under review too decline. The off-take fell by 33.49 per cent at 45,996 units from 69,160 units sales in March 2013.

For year ended 2013-14 the company's sales fell by 30.04 per cent at 566,695 units from 810,086 vehicles shipped-out during the corresponding month of 2013.

M&M's off-take last month was marginally down by 0.5 per cent at 51,636 units from 51,904 units.

Domestic sales stood at 48,490 units during last month, as against 49,225 units during March 2013, a decline of one per cent.

However, the company's exports during the month under review grew by 17 per cent at 3,146 units from 2,679 units.

For year ended March 31, 2014, the company reported a decline of 10 per cent in its total sales at 507,176 units from 563,373 units sold in the previous fiscal.

Honda Cars India reported its highest ever monthly domestic sales of 18,426 units during last month with a growth of 83.4 per cent. The company had sold 10,044 units in March 2013.

Two- and three-wheeler maker TVS Motor closed last month with 17 per cent increase in sales over previous year's corresponding period.

In a statement, the company said it sold 196,826 units last month, up from 167,583 units sold in March 2013.

Two-wheeler major Hero MotoCorp's March sales grew by 11.9 per cent at 524,028 units 468,283 units.

For year ended March 31, 2014, the company's sales reported a growth of three per cent at 6,245,895 units from 6,075,583 units sold in 2012-13.